Was I stupid to just fix my home loan for two years today? Because rates are going to fall even more?

Update:

I wanted to give you both best answer.

Update 2:

I fixed it at 3.75. It sounded good.

5 Answers

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  • Anonymous
    3 months ago
    Best Answer

    Was your crystal ball plugged in? How do you know rates will fall? At least you have a fixed rate which removes uncertainty. p.s. How did you get that best answer rate? I think we should be told.

    • TheBellJar
      Lv 7
      3 months agoReport

      I asked Verizone if I could have my best answers up to Level 7 back after Yahoo deleted all my questions, answers and best answers . Then after I asked Verizone if I could have them back it suddenly went to 2789 percent but has been dropping ever since.

  • ron h
    Lv 7
    3 months ago

    no, you did fine.Rates are low now--they can't get much lower. If you borrowed $50k for 2 years and the rate dropped by 1% the MAX savings would be $500 OVER THE 2 YEARS.. Fix your house, be happy.

    • TheBellJar
      Lv 7
      3 months agoReport

      Oh I think you asked after I gave best answer. Pity I like this answer. lol

  • 3 months ago

    No. The difference (either way) will be small; and insignificant over 2 short years.

  • nt
    Lv 6
    3 months ago

    2 year home loan. Many are 15-20.

    • nt
      Lv 6
      3 months agoReport

      i am not a fan of Adjustable Rate Mortgages because 2 years from now, your payment could increase.

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  • 3 months ago

    Remember it is your home and making it look and feel like a home where you will grow old in, your kids and great grand kids see it as your home is beyond money so if you like it there preparing to pay for it takes wisdom and in two years the interest rates may be lower or higher so let your heart be your guide for it is there God watches over you....

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